NFL draft 2016 contracts: Nonsalaried Football players set to become millionaires

The top picks in the 2016 NFL Draft are set to become instant millionaires with every player likely to earn a contract worth at least seven figures.

With the highest draft picks likely to earn more than the average NFL player, these players have been playing Football without a salary.

Based on the salary cap for the upcoming season and the Rookie Compensation Pool, the rookie salaries are largely determined by these two core factors. Even though the 2016 cap is $155.27 million, the rookie pool is split among the 32 teams.

As per the terms, the yearly salaries including bonuses can’t increase by more than 25 percent on a player’s rookie contract with the minimum salary for a first-year player set to a fixed $450,000. However, before the 2011 collective bargaining agreement came into force, there was no limit to what rookies could make.

In 2010, quarterback Sam Bradford signed a six-year deal worth $78 million, $50 million of which was guaranteed after the then St. Louis Rams sealed a deal.

The current rules limit are designed to allow first-round picks to sign four-year deals with a team option for a fifth season.

NFL Salaries raised:

Jared Goff, who was picked on Thursday’s pick, doesn’t have any idea as to what kind of contract he will get from the Rams. However, in 2011, No. 1 overall pick Cam Newton signed a fully guaranteed four-year contract worth $22 million.

With the sharp increase in the overall salary cap to $10 million, Jame is Winston signed a contract worth 13.6 percent more than what No. 1 overall pick Jadeveon Clowney received in 2014. Interestingly, Marcus Mariota also saw a similar increase compared to the 2014 No. 2 pick, as did the rest of the players in the draft.

While Melvin Gordon signed for $10.67 million to be placed in the No. 15 slot, No. 20 pick Nelson Agholor saw his slot in the draft with an increase of 11.89 percent. However, Malcolm Brown made 11.3 percent more than the No. 32 pick in 2014.